Hong Kong’s Futu Securities International has announced the launch of its crypto deposit service which facilitates Bitcoin, Ethereum, and Tether deposits and trading for investors.
According to the firm’s press release, qualified investors can now make deposits and trade cryptocurrencies on Futu’s all-in-one online trading platform. Hong Kong’s largest online retail brokerage has expanded its suite of cryptocurrencies to include stablecoin deposits for USDT (USDT) as well as major tokens such as Bitcoin (BTC) and Ethereum (ETH).
Investors can now use the Futu NiuNiu app to trade crypto as well as traditional asset classes including Hong Kong, U.S., and Japanese stocks, options, ETFs, funds and bonds among other asset classes. Therefore, the platform allows traders to quickly switch between virtual asset and the traditional asset trading at the press of a button.
Enabling traders to switch between accounts allows them to peruse through multiple assets at a glance and make the right investment choices. Through this new feature, Futu Securities aims to bridge the gap between traditional finance and decentralized finance.
With the deposit function, also known as the “coin recharge function,” Futu users will be able to choose whether to use their funds to accumulate crypto holdings or sell their crypto assets and switch to another asset class.
Previously, Futu has reportedly been running tests for stablecoin deposits involving Tether’s USDT and Circle’s USDC (USDC).
Managing Director of Futu Securities, Xie Zhijian, sees a growing appetite among investors for crypto deposit and withdrawal services in the market. However, not many local brokerage firms are able to supply this.
In the future, the firm hopes to also offer withdrawal services for investors looking to inject their funds into digital assets.
“Futu hopes to bring crypto investors a better investment experience by establishing a more diversified investment platform and a good investment environment in the future,” said Xie.
As previously reported by crypto.news, Futu Securities first opened its crypto trading service back in August 2024. The platform hoped to appeal to retail investors specifically, by offering incentives such as shares in Alibaba and Nvidia.
